EPFO adds 15.32 lakh net subscribers in March-22
Author: BI Bureau
New Delhi: The EPFO added 15.32 lakh net subscribers in March. Month-on-month comparison of payroll data shows an increase of 2.47 lakh net subscribers in March this year, said the Ministry of Labour and Employment in a statement. Of the total 15.32 lakh net subscribers added during the month, around 9.68 lakh new members have been covered under the provisions of EPF and MP Act, 1952 for the first time.
The new member addition has increased by 81,327 in the month of March, 2022 as compared with previous monthThe new member addition has increased by 81,327 in the month of March, 2022 as compared with previous month. Approximately 5.64 lakh net subscribers exited but re-joined the establishments covered under EPFO by transferring their funds from previous PF account to the current PF account, instead of opting for final withdrawal.
Age-wise comparison of payroll data indicates that the age-group of 22-25 years has been on the forefront by registering the highest number of net enrolments with 4.11 lakh additions during March, 2022. This is followed by the age-group of 29-35 with addition of 3.17 lakh net subscribers. The age-group of 18-21 years also added around 2.93 lakh net subscribers during the month. The age-group of 18-25 years constitutes around 45.96 per cent net subscribers addition during the month.
The state-wise comparison of payroll figures highlights that the establishments covered in the states of Maharashtra, Karnataka, Tamil Nadu, Gujarat, Haryana and Delhi to remain in lead by adding approximately 10.14 lakh net subscribers during the month, which is 66.18 per cent of total net payroll addition across all age groups.
The gender-wise analysis indicates that net female payroll addition is approximately 3.48 lakh during the month. The share of female enrolment is 22.70 per cent of total net subscriber addition during the month of March-22 with an increase of 65,224 net enrolments over the previous month of February-22. /BI/
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The exports of agricultural commodities from March to June 2020 shot up by 23.24 percent on-year to Rs 25,552.7 crores.
As the economy comes to a standstill amid the coronavirus-led lockdown, India’s agriculture sector has taken the baton of economic growth in its hands. The exports of agricultural commodities from March to June 2020 shot up by 23.24 percent on-year to Rs 25,552.7 crores, according to the Ministry of Agriculture & Farmers Welfare. The government said that self-reliant agriculture is critical for the goal of an Atmanirbhar Bharat and for this, agricultural export is extremely important as besides earning foreign exchange for the country, the exports help farmers, producers, and exporters to take advantage of the wider international market and increase their income.
The surge in exports has also resulted in increased production in the farm sector by increasing coverage area and productivity. The share of India’s agricultural exports and imports in the world agriculture trade in 2017 was 2.27 percent and 1.90 percent, respectively. Even during the difficult time of pandemic lockdown, India took care not to disturb the world food supply chain and continued to export, the government said.
Ministry of Agriculture has prepared a comprehensive action plan for the promotion of Agri trade; the twofold approach focuses on boosting Agri Export with emphasis on value addition and action plan for Import Substitution. Recently, the Agriculture sector has witnessed a series of reforms, giving more choices to the farmers to sell their produce at competitive rates.
To mention a few, the Export strategy focuses on the export promotion of fast-evolving niche markets of Wellness food/ Health-conscious food/nutraceuticals, Development of “Brand India” in campaign mode to help penetration into new foreign markets and of new products which automatically translates into higher value realization, Gulf countries have been identified as focus destination to increase the market share which is a strong market for India though presently India caters to only 10-12% share of their total imports. A product-market matrix has been made containing a list of products of strength that could be expanded in new geographies and a list of known markets which can be introduced with newer products.
At the behest of the Department of Agricultural Cooperation & Farmers’ Welfare, Ministry of Agriculture, product-specific Export Promotion Forums have been created to lead Agri exports to new heights. Each Export Promotion Forum shall be having exporters of the related commodity as its members along with official members representing concerned Ministries/Departments of the Central and State Governments. Chairman APEDA shall be the chairman of each of these forums. The forums will meet at least once every two months, to discuss recommendations on issues pertaining to the export.
The recommendations of the forum will be placed in the product committee / Authority of APEDA. The Forum will keep in close contact with the concerned organization of the Ministry of Agriculture such as MIDH, Extension, NPPO, etc., DGFT, Ministry of Civil Aviation, MoFPI, etc. to further the interest of agricultural export.
